The recent years the importance of technologies has been increasing, and their role in various spheres of human activity becomes more and more significant. At the same time, artificial intelligence systems, as one of the methods to increase performance and achieve better results in accomplishing multiple tasks, have also become a more popular and potent tool (Tapscott & Tapscott, 2016). For this reason, the integration of blockchain technology with this sort of system can provide new options for better functioning and the achievement of new levels of excellence (Dinh & Thai, 2018). For this reason, the given presentation is devoted to the in-depth analysis of the given technology along with the possible areas of application and benefits that will be acquired due to it.
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The project outlines the three major benefits of the given integration. First of all, AI and encryption work together well and demonstrate outstanding results, which is important for future progress (Marr, 2018). Second, the application of blockchain helps specialists track, understand, and explain the majority of decisions made by AI during the accomplishment of a particular task (Marr, 2018). Third, AI has more potential for the effective management of blockchains if compare with individuals (Marr, 2018). These factors precondition the appearance of multiple options for the use of these two megatrends in many areas such as the banking sector, healthcare, security, buildings management, and capital markets (Tapscott & Tapscott, 2016). The presentation outlines the given prospects and explains the fundamental factors that can be associated with this very technology.
At the same time, the presented work unveils the five common myths associated with the use of blockchain, which is critical for the improved understanding of this phenomenon and its analysis for the application in the fields mentioned above. Another aspect that is mentioned in the presentation is the existence of challenges that might arise when integrating the technologies. These obstacles might include policy risks, the uncertainty of technical convergence, and the overall uncontrollability of the project, along with undesired outcomes (Znakhur, n.d.).
In such a way, the project suggested to you explains the nature of blockchain technology and AI along with the opportunities for their integration and use in different domains. Using existing projects as the background, we outline various options for the implementation of the given technology in real-life conditions and benefits that can be achieved due to its use. At the same time, its impact on various industries is also discussed to prove the high potential of multiple solutions presupposing these very mega-trends and their cooperation.
Altogether, the primary goal of the project is to familiarize individuals with the basic features of blockchain and AI technologies, along with the possibilities for their future use in different spheres of human activity. Moreover, the presentation focuses on benefits that can be generated if to employ this very approach regarding the existing problems or some real companies that might demand intervention. We come to the conclusion that there are multiple advantages that can be attained due to the further development of this technology and the creation of the platform for its wide use in different fields to acquire better results. In conclusion, blockchain integration with AI can be taken as a step towards better levels of excellence and should be given attention to remain innovative and avoid problems with the decreased effectiveness of obsolete approaches.
Dinh, T. N., & Thai, M. T. (2018). Ai and blockchain: A disruptive integration. Computer, 51(9), 48-53.
Marr, B. (2018). Artificial intelligence and blockchain: 3 major benefits of combining these two mega-trends. Forbes. Web.
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Tapscott, D., & Tapscott, A. (2016). Blockchain revolution. New York, NY: Penguin.
Znakhur, S. (n.d.). How blockchain and AI integration is changing business. Web.